Before Global Investing Became Fashion: A Behaviour-First Reflection

Hosting Devina Mehra, Founder & Chairperson of First Global, at the Growth Avenues office in Surat offered more than market insights — it offered a lesson in thinking ahead of behaviour.

Around the year 2000, when most Indian investors were almost entirely domestic in their outlook, she had already taken the difficult path of building a global investment framework.

At that time, global investing was neither convenient nor popular. It required conviction, research capability, and the willingness to operate outside familiar boundaries. Yes, First Global was among the very few firms from Asia (ex-Japan) to acquire membership of the London Stock Exchange (LSE) — a remarkable step that reflected long-term vision and courage.

What impressed us was not simply the decision to go global, but the philosophy behind it.

Diversification as Behaviour Design

Her emphasis on diversifying across countries, asset classes, and currencies reflects a deeper idea: diversification is not just portfolio construction — it is behaviour management.

When portfolios are structured thoughtfully across geographies and asset classes, investors are less likely to react emotionally to short-term volatility. This aligns strongly with the philosophy of behaviour first investment, where long-term outcomes depend not only on financial knowledge but on disciplined investor behaviour.

In many ways, such thinking forms the foundation of Financial Goal-Based Investing, where portfolios are designed around life goals rather than short-term market movements. It also resonates with the broader approach of Behavioural Investing & Wealth Advisory, where advisors help investors align their financial decisions with psychology, discipline, and long-term wealth creation.

The interaction reminded us that the most powerful investment ideas are often not about predicting markets — they are about understanding human behaviour.

And sometimes, the greatest edge an investor can have is simply the ability to think differently — long before the world catches up.

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